$SPY opening flat on this 1/2 day. Market in general still in the overbought territory according to the McClellan Oscillator, so maybe fireworks to close the day nice and neat for the 4th of July, but I do expect us to sell and...
Read MoreAm I the only one that thinks all this fuss about LIBOR fixing is strange? Granted it was illegal and was an example of bank corruption, insider trading and so on, but it’s been a long time since there was anything with...
Read MorePre-market upadate (7am eastern): European markets are trading 0.4% higher. Asian markets traded 1.0% higher. US Markets are looking at a flat open. Economic reports due out (all times are eastern): ICSC-Goldman Store Sales...
Read MoreSharePlanner Compass: No change in the current uptrend today. Another few days of strong upward price movement though, and I’ll be tempted to move it into the pullback zone. Quick Glance at the Market Heat Map and...
Read MoreOnce again the market closed green today after an end of the day run up. Looking at the chart here we can see SPY is nearing some big resistance levels. First anything above 136.24 is resistance from when the market dropped in...
Read MoreOn 6/26 there we mentioned to watch KOG as it has formed a great double bottom pattern and had the potential to move much higher. Since then KOG has ripped being aided by a spike in oil on Friday. KOG played the Double Bottom...
Read More$SPY on the past 1 hour have build on my view and understanding a Head and Shoulder pattern, that even my trading colleagues were having trouble seeing. I had some of them saying that they were seeing on a 15 min chart, so I...
Read More$SPY just did not made it to the 136.69 level as I suggested in the $SPY read, and is now falling apart. Being short today for now is the best position one can take. There are some names that fell a lot already, But we are...
Read MoreI did a weekend writeup at MarketShadows and if you want to see that it’s in the weekly MarketShadows newsletter published yesterday. You can download that as a PDF here. I’m using the two charts from that post this...
Read More$SPY opening just a bit higher, I am looking for it to reach 136.69 which is the next break out level on my charts. Honestly I think it will be hard (but not impossible) since the McClellan Oscillator is again above on the...
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